30th Jun 2016 09:01
LONDON (Alliance News) - Ukrproduct Group Ltd on Thursday said it has extended the maturity date of its loan agreement with the European Bank for Reconstruction & Development and has been provided with a capital repayment holiday until March 1, 2017.
The Ukrainian producer and distributor of branded dairy foods and beverages said the maturity date has been extended to December 1, 2024 from the previous date of December 10, 2018.
Ukrproduct has also been provided with a capital repayment holiday until March 1, 2017, at which point quarterly capital repayments, representing the majority of the loan, begin and which will then increase in amount on an annual basis until December 1, 2022, followed by a final bullet repayment on December 1, 2014, the company said.
Ukrproduct said additional deferred costs and overdue interest totalling around EUR520,000 will be due along with the final bullet payment.
Shares in Ukrproduct were up 20% at 3.00 pence on Thursday morning.
By Hannah Boland; [email protected]; @Hannaheboland
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